Govt should initiate reform process to calm FII concerns: Prabhudas Lilladher

Global rating agency Standard & Poor's has cut its outlook on India to negative. Commenting on the rating, Ajay Bodke, Head - Investment Strategy & Advisory at Prabhudas Lilladher told NDTV Profit that he expects downgrades to India's economic growth forecast. "FIIs already have concerns over the implication of GAAR. The government now needs to kick-start the reforms process," he said. He likes Tata Motors, Maruti in the auto sector. He is positive on ICICI and Axis Bank.